Altice announced an organisational shake-up on Monday which would see a spin-off of its U.S. business, Altice USA, and its European operations would be restructured into three units. The telecoms and cable group also said $1.5 billion cash dividend would be paid immediately before separation with plans for a $2 billion share buyback to follow.

The European Central Bank sold its entire holding of bonds from scandal-hit South African retailer Steinhoff International last week, data showed on Monday, booking steep losses to offload debt from the company that is facing multiple probes into its accounting practices.

Britain’s financial watchdog fined a former Royal Bank of Scotland Group Plc trader Neil Danziger 250,000 pounds ($339,125.00) for his role in the Libor-rigging scandal and barred him from working in any regulated financial activity.

Facebook Inc’s Oculus is teaming up with smartphone maker Xiaomi (IPO-XMGP.HK) to launch its new mobile virtual-reality headset in China, giving the social media giant a foothold in a market where most of its internet services are barred. ($1 = 0.7372 pounds) (Compiled by Bengaluru newsroom; Editing by Sandra Maler)